https://www.taxtmi.com/caselaws?id=234798 The Tribunal upheld the deletion of the addition of cash deposits as unexplained income under section 69B of the Income Tax Act, 1961. The Commissioner of Income Tax (Appeals) accepted the assessee's explanation that the cash deposits were withdrawals from another bank account. The Tribunal supported this decision, emphasizing the alignment of the cash flow statement with bank transactions and the lack of evidence showing the money was spent elsewhere. The Department's appeal was dismissed, highlighting the significance of considering the assessee's explanations in such cases. en-us Fri, 21 Jun 2013 00:00:00 +0530 Fri, 28 Jun 2013 05:30:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234798 The Tribunal upheld the deletion of the addition of cash deposits as unexplained income under section 69B of the Income Tax Act, 1961. The Commissioner of Income Tax (Appeals) accepted the assessee's explanation that the cash deposits were withdrawals from another bank account. The Tribunal supported this decision, emphasizing the alignment of the cash flow statement with bank transactions and the lack of evidence showing the money was spent elsewhere. The Department's appeal was dismissed, highlighting the significance of considering the assessee's explanations in such cases. Case-Laws Income Tax Fri, 21 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234798